The equity risk premium has reverted to levels appropriate for a financial pandemic.
Donald L. Luskin
Back in the Hot Zone
Friday, October 10, 2014
On the September Jobs Report
Friday, October 3, 2014
Bad news revised away -- and more fake fuel for the narrative that the Fed will tighten.
No Way ECB QE
Wednesday, October 1, 2014
All that's preventing sovereign buys are feasibility, timing, politics and Draghi's wishes.
Wednesday, September 24, 2014
41 days till we may have to wait 32 more days to know who controls the Senate.
The Fed's Growth-Friendly "Dot" Gap
Friday, September 19, 2014
Treasuries are waking up to what stocks have known all year: "the Yellen Rule" could work.
On the September FOMC
Wednesday, September 17, 2014
Dots and dissents be damned. The ultra-dovish "Yellen Rule" is completely intact.
The Untied Kingdom
Wednesday, September 10, 2014
Worst case without Scotland: gilts get slightly junked. But no currency crisis, no contagion.
On the August Jobs Report
Friday, September 5, 2014
A bad jobs report -- but the key metric in this labor market continued to improve.
On the ECB August Policy Decision
Thursday, September 4, 2014
As we expected, an ABS purchase scheme -- along with a surprise rate cut (the last one).
Attack of the 15 Basis Point Deflation Monster
Tuesday, September 2, 2014
A dubious deflation emergency in Europe isn't justification for such low US Treasury yields.